Multibagger stock Elitecon International will remain in focus on Monday after Mauritius-based Minerva Ventures bought 8.58% stake in the company. The multibagger stock ended Friday’s trading session in red, settling 1.36% lower at ₹58.19.
In an exchange filing, Mauritius-based Minerva Ventures said that it has acquired 13.7 crore or 8.58% stake in Elitecon International via warrants issue and open market transactions.
However, the Mauritius-based FII didn’t reveal the cost of stake acquisition in the tobacco company. After the completion of the transaction, the total voting share capital of Elitecon International Limited stands at 1,598,500,000 shares.
Elitecon International’s business updates
On February 27, the company said its manufacturing unit in Nashik was inspected by officials from the Food and Drug Administration on January 8, 2026. The inspection was carried out in accordance with a Government of Maharashtra notification dated July 20, 2025, issued under the Food Safety and Standards Act, 2006.
During the inspection, certain inventories of tobacco products along with related packing and sealing machines were seized. The alleged contravention relates to manufacture and storage of products covered under the said notification, the company said in the exchange filing.
Elitecon International financial performance
The company posted remarkable financial expansion in the first half of FY26, driven by an exceptional surge in revenue. Its quarterly results showed net sales soaring 318% to ₹2,192.09 crore, while net profit increased 63% to ₹117.20 crore compared with the previous quarter.
The growth was even more striking on a half-yearly basis, with net sales jumping 581% to ₹3,735.64 crore and net profit rising 195% to ₹117.20 crore year-on-year. This sharp acceleration comes after a relatively modest FY25, during which the company reported annual net sales of ₹548.76 crore and a net profit of ₹69.65 crore.
Elitecon International share price trend
The small-cap multibagger stock has remained under pressure in the near term. The stock has fallen over 18% in the past five sessions, 16.53% in a month, and 81.33% in six months amid volatile market.
However, the small-cap stock has delivered multibagger returns of 156% in the last one year and 4,250% in the last five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
